Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 1, 2013 erstellt
Description:
There is a lot of forward looking work attempting to envisage the decarbonised energy system of the future as reflected with current interest in "smart grids". A central tenet behind most visions of the "smart grids" of the future are the price signals that financial and commodity markets will deliver to facilitate effective and efficient resource allocation. Most of these visions take stylized and static views of financial and commodity markets despite the fact that these markets are experiencing dramatic change due to innovation and regulation. Accordingly, the paper maps the risks associated in the fusion of financial innovation with innovation in the energy system through a theoretical framework that draws on evolutionary models of paradigm shift. Risks to both the financial and energy systems are characterized as either emanating from primary or secondary markets and these are explored in terms of alternative visions of the energy system in the long run